S&P Global Ratings upgrades Elis
to an Investment Grade credit BBB- rating
Saint-Cloud, 17 November 2023 – Elis announces that the ratings agency S&P Global Ratings (S&P) upgraded the Group’s long-term credit rating to BBB- with a stable outlook. The rating of the Group’s EMTN issuances is also upgraded from BB+ to BBB-.
This upgrade to Investment Grade rating reflects the financial strength of the Group, its prospects for margin improvement, acceleration of cash generation and further deleveraging. It also rewards the robustness of Elis’ business model, which was largely demonstrated during the pandemic.
Xavier Martiré, Chairman of the Management Board of Elis, said: “I welcome this rating upgrade from S&P. This decision rewards the Group’s many operational achievements and reflects S&P’s confidence in Elis’ financial strength and strategy. The Group will seek to maintain a financial policy that is aligned with the Investment Grade category, while pursuing its profitable growth strategy and maintaining a constant focus on value creation for its shareholders.”
As of today, Elis is rated BBB- by S&P with a stable outlook, Ba1 by Moody’s with positive outlook, and BBB (low) by DBRS with a positive outlook.
About Elis
As the leader in circular services, thanks to a rental-maintenance model optimized by traceability technologies, Elis innovates every day. In its 29 countries, Elis meets the needs of its customers in terms of protection, hygiene, and well-being, while accompanying them in achieving their environmental objectives. With a unique operational know-how and a profitable organic growth profile, Elis creates sustainable value for its shareholders, customers, employees, and the environment.
Contact
Nicolas Buron
Director of Investor Relations, Financing & Treasury
Phone: +33 1 75 49 98 30 – nicolas.buron@elis.com
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